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Nike: Just sell it, analyst says

2015-10-21 01:37:30| Footwear - Topix.net

Nike has been "an absolutely amazing stock this year," says MKM Partners chief technical analyst Jonathan Krinsky, but now is the time to sell after shares hit a 52-week high yesterday . Krinsky notes that NKE shares are now trading 26% above its 200-day MA, the widest spread since May 2013, which at that time preceded a 10% pullback; December 2014 saw a ~20% spread to the 200-day DMA, and the stock pulled back 9% over the following few months.

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